WEEKLY: China SiMn prices edge up further

Chinese silicomanganese (SiMn) prices continued firming over the past week, with the national price of 6517 SiMn under Mysteel's assessment reaching Yuan 6,250/tonne ($877/t) including the 13% VAT as of December 29, higher by another Yuan 8/t from one week before.

The continuous rise in SiMn prices mainly reflected improved sentiment in the domestic market, with steel mills in eastern China lifting their bid volumes and bid prices of the ferroalloy for January deliveries, according to Mysteel's survey. However, spot SiMn prices retreated somewhat in the second half of the week